Plant Health Care PLC Wilbur Ellis Agreement (6732C)
June 14 2023 - 1:00AM
UK Regulatory
TIDMPHC
RNS Number : 6732C
Plant Health Care PLC
14 June 2023
14 June 2023
Plant Health Care plc
("Plant Health Care" or the "Company")
Plant Health Care(R) ("PHC") and Wilbur-Ellis(R) Agribusiness
Announce Distribution Agreement to Support First OBRONA (TM)
Commercial Sales in the U.S.
Plant Health Care(R) (AIM.PHC.L), a leading provider of peptides
for plant protection to global agriculture markets, is pleased to
announce it has concluded a distribution agreement ("The
Agreement") with Wilbur-Ellis(R) Agribusiness, one of the largest
U.S. retailers of agricultural products. The Agreement will support
commercial sales of OBRONA (TM) , a foliar fungicide recently
approved by US EPA which is expected to be available within key US
markets during the summer of 2023. Obrona is a unique product
developed to help growers control a wide range of fungal and
bacterial plant pathogens within fruits, nuts, vegetables, and row
crops.
Plant Health Care and Wilbur-Ellis have been working together in
an exclusive partnership since 2020 to evaluate and develop PHC279,
the active ingredient in OBRONA, for high value specialty and row
crop markets. Multiple years of field trials have validated product
efficacy to support initial launch focused on corn diseases, such
as tar spot (Phyllachora maydis), Gray leaf spot (Cercospora
zeae-maydis), and common rust (Puccinia sorghi), as well as powdery
and downy mildew and various other diseases in grapes, as well as
white mold (Sclerotinia sclerotiorum) and other diseases affecting
leafy vegetables within key Western US states.
Derived from naturally occurring proteins, PHC279 is the first
product from the Company's PREtec technology platform (Vaccines for
Plants(TM)) that will be available to US farmers. PREtec stimulates
crop growth and enhances crop resistance to fungal and bacterial
diseases and improves crop quality and yield. The Company's initial
PREtec product, Saori(R) is successfully being used in Brazil as a
seed treatment to control an array of soybean diseases including
Asian Soybean Rust ( Phakopsora spp.).
PREtec provides growers with a novel and environmentally
friendly approach to growing crops and is compatible with
mainstream agricultural practices. As part of an integrated pest
management program, OBRONA will reduce reliance on older synthetic
pesticides and will provide growers with a valuable tool to
proactively manage disease resistance. The availability of OBRONA
will support farmers seeking to use more sustainable and
environmentally friendly practices while continuing to provide
safe, abundant, and high-quality food.
Plant Health Care continues to expand into new markets around
the world through strategic partnerships with major global
distribution partners. The Company is on track to achieve revenue
of $30 million by 2025, through the launch of new products and
continued growth through current and future distributor
relationships, and to achieve cash breakeven and profit along that
track.
Jeff Tweedy, CEO of Plant Health Care, said: "Having worked with
Wilbur-Ellis on the development of OBRONA for more than three
years, I am gratified that this new agreement will bring OBRONA to
the market to enable control of many of the most recalcitrant
fungal and bacterial pathogens challenging growers today. OBRONA
will support sustainable agriculture with better crops delivering
higher yield for thousands of U.S. farmers."
Scott Addy, Wilbur-Ellis Agribusiness VP Branded Technologies
and Biological Solutions , said: "We are pleased that our
partnership with Plant Health Care has resulted in the approval of
OBRONA and are looking forward to launching the product this summer
to deliver value to the grower in a sustainable way. We expect that
there will be many other products that follow, and we will continue
to offer our growers biological options to solve their pest
issues."
# # #
About Plant Health Care
Plant Health Care offers products to improve the health, vigour
and yield of major field crops such as corn, soybeans, potatoes,
and rice, as well as specialty crops such as fruits and vegetables.
We operate globally through subsidiaries, distributors and supply
agreements with major industry partners. Our innovative,
patent-protected biological products help growers to protect their
crops from stress and diseases, and to produce higher quality fruit
and vegetables, with a favourable environmental profile.
Find out more at www.planthealthcare.com
About the Wilbur-Ellis Companies
Founded in 1921, the Wilbur-Ellis companies are leading
marketers, distributors and manufacturers of agricultural products
and animal nutrients. By developing strong relationships, making
strategic market investments, and capitalizing on new
opportunities, the Wilbur-Ellis companies have continued to grow
the business with sales of over $3.5 billion. For more information,
please visit www.wilburellis.com
For further information, please contact:
Plant Health Care plc Tel: +1 919 926 1600
Jeff Tweedy, CEO
Cenkos Securities plc - Nomad & Broker Tel: +44 (0) 131 220 9771
Neil McDonald / Pete Lynch
SEC Newgate (Financial Communications) Tel: +44 (0)7540 106 366
Robin Tozer / George Esmond / Harry Email: phc@secnewgate.co.uk
Handyside
For further information about Wilbur-Ellis, please contact:
Jeanne Forbis, email:jforbis@wilburellis.com
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